Federated Hermes Inc. Trims Stock Holdings in Snap-on Incorporated (NYSE:SNA)

Federated Hermes Inc. lowered its stake in shares of Snap-on Incorporated (NYSE:SNA) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,492 shares of the company’s stock after selling 119 shares during the period. Federated Hermes Inc.’s holdings in Snap-on were worth $5,938,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SNA. UMB Bank n.a. lifted its holdings in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Snap-on during the fourth quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on in the fourth quarter worth about $28,000. CoreFirst Bank & Trust bought a new position in shares of Snap-on in the fourth quarter valued at approximately $40,000. Finally, TCTC Holdings LLC grew its stake in Snap-on by 41.3% during the fourth quarter. TCTC Holdings LLC now owns 147 shares of the company’s stock valued at $50,000 after acquiring an additional 43 shares in the last quarter. 84.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on SNA shares. Tigress Financial raised their price target on shares of Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research reissued an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research note on Friday. Finally, Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $355.33.

Snap-on Stock Performance

NYSE SNA opened at $336.50 on Friday. The company has a market capitalization of $17.64 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. Snap-on Incorporated has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a fifty day moving average of $333.58 and a 200-day moving average of $336.83.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same period in the previous year, the company posted $4.75 earnings per share. As a group, equities research analysts predict that Snap-on Incorporated will post 19.79 EPS for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 24th were given a dividend of $2.14 per share. This represents a $8.56 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend was Monday, February 24th. Snap-on’s payout ratio is currently 43.90%.

Insiders Place Their Bets

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares in the company, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,011 shares of company stock valued at $12,116,859. 3.90% of the stock is currently owned by corporate insiders.

Snap-on Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.